SAN FRANCISCO (Reuters) – Groupon Inc on Wednesday said it named interim Chief Executive Eric Lefkofsky to lead on a more permanent basis, and reported better-than-expected revenue for the second quarter. Its stock rose 19 percent in after-hours trading.
The company also authorized a $300 million share repurchase program.
Lefkofsky, who was named interim CEO in February, delivered higher revenue for his first full quarter in charge, and shares hit a 52-week high after hours at $10.35.
SAN FRANCISCO, Aug 6 (Reuters) – A frenzy of Twitter chatter
about a broadcast program generally means more viewers are
tuning in, while more popular TV shows generate more Twitter
activity, a new study by Nielsen has found.
The media measurement firm says that for the first time it
has proved with statistical rigor what many in the media
business have suspected in recent years: that a show’s ratings
and the magnitude of its Twitter buzz are correlated.
SAN FRANCISCO (Reuters) – LinkedIn Corp (LNKD.N: Quote, Profile, Research, Stock Buzz) sailed passed Wall Street’s expectations with second-quarter revenue jumping 59 percent, as its efforts to become a highly trafficked website and popular mobile app paid off with robust membership growth.
The company’s shares surged 7 percent to record levels after the bell. It also raised its full-year guidance, although it gave a lower-than-expected forecast for the third quarter.
SAN FRANCISCO, Aug 1 (Reuters) – LinkedIn Corp
reported revenue jumped 59 percent to $363.7 million in the
second quarter after membership grew at a faster pace for the
first time since late 2011.
The site now boasts 238 million users, a 37 percent increase
from a year ago and a 9 percent increase from the first quarter.
SAN FRANCISCO (Reuters) – Twitter is under increasing pressure from governments around the world to release user’s private information, with requests rising 40 percent in the first six months of the year, the microblogging company said Wednesday in its semi-annual transparency report.
The United States made three-quarters of the 1,157 data requests during the six-month period, according to the San Francisco-based company’s report. (Report: transparency.twitter.com/)
SAN FRANCISCO (Reuters) – Zynga Inc will largely abandon its long-running efforts to build a real-money gaming business in the United States, a prospect investors once believed to be the struggling company’s sole lifeline.
The surprise announcement came Thursday as the company behind once-popular games such as “FarmVille” and “Words with Friends” reported that it lost 40 percent of its monthly active users in the second quarter, as it bleeds mobile gamers to aggressive rivals.
SAN FRANCISCO (Reuters) – Zynga Inc said on Thursday it will largely abandon its long-running efforts to build a real-money gaming business in the United States, a prospect observers had believed to be the struggling company’s sole, tenuous lifeline.
“Zynga is making the focused choice not to pursue a license for real money gaming in the United States,” the company said in a statement. “Zynga will continue to evaluate all of its priorities against the growing market opportunity in free, social gaming, including social casino offerings.”
SAN FRANCISCO (Reuters) – Google Inc is offering $600,000 to set up free wireless Internet hotspots in 31 public spaces in San Francisco, but city officials said they need to review annual maintenance costs before it could be approved.
Google has previously funded public wireless projects in its home city of Mountain View, California, in New York Chelsea’s neighborhood and around Boston’s South Station. The search giant is based 30 miles away from San Francisco but employs hundreds of workers who commute from the city.
SAN MATEO, California (Reuters) – A teenage passenger on the Asiana Airlines jet that crashed in San Francisco died from injuries sustained after being run over by a motor vehicle, most likely a fire truck at the scene, local officials said on Friday.
Ye Mengyuan, a 16-year old girl who sat toward the rear of Flight 214, survived the Boeing 777′s crash-landing on July 6 but died from blunt force injuries consistent with being run over by an emergency response vehicle, San Mateo County Coroner Robert Foucrault and San Francisco Fire Chief Joanne Hayes-White said at a news conference.
SAN FRANCISCO (Reuters) – A secret U.S. court overseeing government domestic surveillance activities has sided with Yahoo Inc and ordered the Obama administration to declassify and publish a 2008 court decision justifying Prism, the data collection program revealed last month by former security contractor Edward Snowden.
The ruling could offer a rare glimpse into how the government has legally justified its spy agencies’ data collection programs under the Foreign Intelligence Surveillance Act (FISA).